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piece of the future buying cycle. a nice silver lining. david: now chrysler is an italian car company. the italians, the parent company is going to awful times. quitting because of the sales. is there any possibility. now they are not supposed to do this, but is there any possibility tie-ins will pour some of the profits they're making from chrysler here and use them to pay out the parent company in italy? >> i suppose the possibilities are always there. certainly talking about a global company to the extent you're doing better in one market and then another is always a bit of shifting around. at this point i think north america for all the automakers has really become a strong point. hopefully we can move forward, result in undermining uncertainty and go into a strong 2013 in terms of auto sales. david: the u.s. may be doing well but europe is doing terrible. chief economist, thank you very much, good to see you. it has been a rough year for corporate america with the government fining businesses $1.1 billion in antitrust funds. we have the exclusive details. liz: ever wonder what it
to get out there and start looking. chrysler rehiring union workers it fired after very public embarrassing incident. why the turn around? >> a local television statement had videotape of these workers on a break looking like they were smoking pot, drinking. this is a very public story in detroit. people were outraged saying, look, there is the problem with you with the union workers. they violate terms. they went to mediator and the mediator said, can you prove they were smoebing pot? ? no. can you prove they were drinking alcohol? no. so the mediator said you have to rehire them. chrysler is not happy. they put out a statement saying, yes, he had to rehire the employees. while the company does not agree with the ultimate decision of the arbitrator, we respect the grievance process as outlined in the collective bargaining agreement and our relationship with the uaw. these workers are going back on the job. but this is the kind of thing in detroit people look at and say, give me a break. these guys were caught doing something on camera that was clearly maybe not legally could b
.s. began to fall apart, when it became clear that gm, ford, chrysler cannot polling started having some many retirees relative to those working at it just is hard to work within that confinement. the question was whether labour would mobilize to say that the private welfare system is falling apart. the only solution is therefore to really have the kind of health care system that exists elsewhere. the labor union was not strong enough to do it, and i think a lot of cases man mistake of not making that the primary issue. the result was that companies like gm got none of it not by saying once make it into a public system but let's take it away from the workers, and that's how will save money. and that's what happened. >> the occupy wall street movement. an hon. >> the book ends with a quotation from the cut a square. a young woman holding a banner. hand-painted cardboard sign that says the trouble with the american dream is you need to be asleep to believe in it. wakeup. and there is no question that the audacity of the occupation is no doubt inspired by what is going on in aged and madrid
and chrysler would have gone into free-fall bankruptcy, they would have taken the supply base down and the industry down and turn the u.s. recession into a depression." that is the teaching moment about the power of the overall innovative skill said, the supply chain, and what that means for our capacity to compete when the company that would have been left standing thought they might have gone down as well. there is so much to say. i wanted to make these viewpoints, overall perspective, talk about manufacturing and research and skills, and i'm very happy to take your questions going forward. [applause] >> i think we have time for a few questions. i will call on people. if you could wait until he comes around with the microphone. >> thank you. aig investments. my question goes to innovation funds, which you brought out. at what stage are you focusing on with respect to either expansion or start-ups? on an execution basis, what is the regional plan as far as national strategy? >> look, i think for those of us in a government job, where you want to be like the classic economic book i
of collapse. gm, chrysler were all on the brink of failure. and if they failed, the suppliers and distributors that get their business from those companies, they would have died off, too. even ford could have gone down -- production halted. factories shuttered. once proud companies chopped up and sold off for scraps. and all of you -- the men and women who built these companies with your own hands -- would have been hung out to dry. and everybody in this community that depends on you -- restaurant owners, storekeepers, bartenders -- their livelihoods would have been at stake, too. so i wasn't about to let that happen. i placed my bet on american workers. we bet on american ingenuity. i'd make that same bet any day of the week. [applause] three and a half years later, that bet is paying off. this industry has added over a quarter of a million new jobs. assembly lines are humming again. the american auto industry is back. and companies like daimler know you're still a smart bet. they could have made their investment somewhere else, but they didn't. and if you ask them whether it was a tough call
and what they mean in the next hour. meanwhile, president obama will visit a chrysler plant just outside detroit today. remember, a city council woman last week said the city deserves a federal bailout because the city helped reelect the president. >> after the election of jimmy carter, the honorable coleman alexander young, he went to washington d.c., and came back home with some bacon. stuart: well, you heard the rest from there. the lady goes on to say it's a quid pro quo give us the monny because we voted for you. the question, will the president offer any hint of a bailout, bailout help for deeroit today. will he address union anger at michigan's right to work legislation? this goes to the heart of government spending and the position of organized labor in president obama's second term. we're right there in michigan. let's go to facebook. weigh in on what's happening there. will detroit get a bailout and what do you think about the unions? will they win? good questions all. now, one of the worst blowouts in nfl history. seattle seahawks beat arizona cardinals 58-0. the cardinals thr
what happened to general motors or chrysler. yothey make it less profitable r unions. as a result you get more invested and more jobs. jobs are one thing michigan definitely needs. lori: i agree. the unions would argue many of the freedoms, many of the advantages their workers enjoy her because of the lobbies and the history they have had, therefore the unions are deservedly deserve their dues. >> if you can persuade workers to give you their money, that is fantastic, that is your constitutional right. they should not be forced to pay dues to the union. 20% of union households in michigan support the right to work law. probably because there's a awful lot of union workers don't go there again the value worth of their dues or supports priorities. they should have a choice, that is their right. lori: we have seen unions lose membership, lot less clout than in generations past. how do you characterize the influence of unions right now? >> it is a competitive marketplace. up through the late 70s the detroit automakers headlock on the u.s. market and about a million and a half members. sin
you buy the fuel and put it among the manufacturers, chrysler, gm, toyota, especially in older vehicles and look at your manufacturers website if you're in this group, what happens with the e15 the fuel separates and ethanol in there is highly corrosive to your engine. is this new information? did we know this before? >> well, no, we've told the regulators about this we spent millions of dollars in research to try to understand that dynamic. in fact let me reiterate. in the oil and gas business we support biofuels. we're major investors and producers of biofuels but we don't think you should force more biofuels to be mixed with regular gasoline until you know its impact. other research shows it puts five million american cars that are already on the street at risk where it could have some engine damage. we think you need to look at all these other issues that are now starting to come to the surface, but regulators, the administration just moved forward mandating the fuel. melissa: what does it mean to have aaa coming in and putting out a warning, saying don't use it, and puttin
money that went into it. without federal money, chrysler and gm would have gone bust. >> the liquidity. like aig -- >> exactly. let me finish. you talk about it's all wasted. that's not true. that's not true. some of it is well spent. and i think you should answer your question. sandy, not named after me, had a major impact on the east coast. there's been a request for help from the federal government. i'm all in favor of accountability. >> but did you have accountability with katrina? i don't think so. it's your constituents that are paying for the wasteful money. if you're coming here telling your constituents, you really don't -- >> no, look, i'm saying, i'm in favor of accountability. >> the congressman from new jersey needs to speak up for the state. >> i'm in favor of accountability. let me finish. after accountability is built in, will you vote yes or no? >> i will be supportive of slaks once we have the accountability in place. >> good. >> work with me on the accountability, fantastic. >> absolutely. i'll make sure the people in new jersey and new york are not left high and dri
that are unionized to autoworkers on the line at gm, ford or chrysler. interestingly, though, today, too here, brooke, you had fellow union workers protesting that aren't even part of the legislation. it does not apply to firefighters or police officers. but yet here today we found firefighters who were protesting this saying this is bad for workers across michigan. and nationally. i want you to listen to ted coakley, he's one of those and he explains why. does this mean the gbeginning o a death of unions in the country? do you think it is that big symbolically? >> i think things like this are waking the sleeping giant. i think workers and working families are tired of losing. they want a fair share of the prosperity of this state, and this country, and i think that's going to help build the union movement. >> reporter: -- from this right to work legislation. why are you here? >> that's correct. as of right now we're exempt from this legislation. but it doesn't change the fact that we want to be here to support all our brothers and sisters in the unions because we're also union. and the fact that our
over the years, g.m. and chrysler products. over half of the new york stock exchange, half the fortune 500, being credit card business in our state. the coast of our state is the site of the nation's summer capital, rehoboth beach and a bunch of other places. the letter "c" has been pretty big. people say why do they call you the first state? we're the first colony that threw off the yoke of the british tyranny and at the same time said pennsylvania take a hike, we want to be a state on our own. 225 years from tomorrow to be exact, the first state to ratify the constitution. but we have the best beaches in the country. last year i think there were four or five-star beaches in america, two in delaware. rehoboth and dewey. the best air force base in the world. we have, i think, the finest judiciary, finest judicial system in the state. we have the best financial controls and financial controls and cash management system. we have a triple-a credit rate system. we continue to have that kind of credit rating. we're proud of being first in our state -- our state motto is it's good to be firs
motor co. ceo alan mulally said at the time, "we believe that if gm and chrysler would have gone into free-fall bankruptcy, they would have taken the supply base down and the industry down and turn the u.s. recession into a depression." that is the teaching moment about the power of the overall innovative skill said, the supply chain, and what that means for our capacity to compete when the company that would have been left standing thought they might have gone down as well. there is so much to say. i wanted to make these viewpoints, overall perspective, talk about manufacturing and research and skills, and i'm very happy to take your questions going forward. [applause] >> i think we have time for a few questions. i will call on people. if you could wait until he comes around with the microphone. >> thank you. aig investments. my question goes to innovation funds, which you brought out. at what stage are you focusing on with respect to either expansion or start-ups? on an execution basis, what is the regional plan as far as national strategy? >> look, i think for those of us in a
ceo said at the time, and i quote, we believe that if gm and chrysler gone into freefall bankruptcy they would have taken the supply base down and taken the industry down, but maybe turn the u.s. recession into a depression, closed quote. that is a teaching moment about the power of the overall innovative skill set, the supply chain, and what that means for our capacity to compete when the company that would've been left standing thought they might have gone down as well. so, there's so much to say. i want to make these viewpoints, overall perspective, talk a little bit about manufacturing, about research and develop skills, and i'd be very happy to take your questions going forward. [applause] >> we have time for a few questions. i will call on people. if you can wait for christine to come around with a microphone. >> thank you. rob, invest in state we're in manufacturing invested in 20 states. my question goes to innovation funds which you brought it. at which stage are you focusing on? is it with respect to either extension or the startups? then on an execution basis, which the r
Search Results 0 to 12 of about 13

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